If you are planning to buy LIC Jeevan Umang, this free LIC Jeevan Umang calculator helps you estimate annual survival benefit, total premium outgo, and projected maturity value in one place. Enter your values, click calculate, and use the output as a planning baseline before finalizing with LIC illustrations.
LIC Jeevan Umang Calculator
This is an educational estimate, not an official LIC benefit illustration. Actual bonus rates and payable benefits depend on LIC declarations, policy conditions, taxes, and claim timing.
What is LIC Jeevan Umang?
LIC Jeevan Umang is a whole life participating plan. After you complete the premium paying term, the policy offers a yearly survival benefit equal to 8% of Basic Sum Assured up to age 100 (or till death, whichever is earlier). On maturity at age 100, a lump sum maturity amount is paid along with applicable bonuses as per policy rules.
Core features people usually look for
- Life cover with long duration protection.
- Regular yearly income after premium payment years are over.
- Potential participating bonuses (non-guaranteed).
- Maturity payout at age 100 if life assured survives.
How this LIC Jeevan Umang calculator works
This calculator combines guaranteed-style components with bonus assumptions to give a practical estimate:
- Annual Survival Benefit: 8% × Basic Sum Assured.
- Total Premium Paid: Annual Premium × Premium Paying Term.
- Projected Maturity Value: Basic Sum Assured + Estimated Reversionary Bonus + Estimated Final Additional Bonus.
- Projected Lifetime Benefits: Total Survival Benefits + Projected Maturity Value.
Because bonuses are declared by LIC and can vary over time, treat bonus-based projections as directional, not guaranteed.
Inputs explained (quick guide)
1) Basic Sum Assured
This is the primary coverage amount and the base for annual survival benefit. A larger sum assured increases both annual payout and projected maturity amount.
2) Entry Age
Entry age affects underwriting, premium rates, and the number of years available for payouts before age 100.
3) Premium Paying Term (15/20/25/30)
Choose the term under your intended option. Shorter premium terms generally increase annual premium but start survival benefits sooner.
4) Annual Premium
Use your premium quote from LIC agent/branch/official illustration for realistic results.
5) Reversionary and Final Bonus assumptions
These are estimate fields. Higher bonus assumptions increase projected maturity value. Keep assumptions conservative for planning.
Example projection
If Basic Sum Assured is ₹10,00,000, entry age is 30, PPT is 20 years, and annual premium is ₹45,000:
- Estimated annual survival benefit = ₹80,000
- Premium payment years = 20
- Annual payouts start after premium term completion
- Maturity value depends heavily on actual declared bonus rates
This helps compare whether Jeevan Umang suits your income planning versus alternatives like term insurance + mutual fund SIP or other guaranteed income products.
Who should use this calculator?
- People evaluating LIC Jeevan Umang for long-term income planning.
- Families comparing guaranteed annual cash flow options.
- Buyers wanting to estimate premium outflow vs projected benefits.
- Policyholders reviewing if their selected sum assured still fits goals.
Important limitations
- Bonus values are assumed, not guaranteed.
- Actual policy benefits follow LIC product brochure and policy bond wording.
- GST, rider premiums, loan interest, and policy servicing effects are not modeled here.
- Death benefit calculations can vary based on policy stage and exact conditions.
FAQs on LIC Jeevan Umang calculator
Is this an official LIC calculator?
No. It is an independent educational tool for estimation and planning.
Can I rely on this for final purchase decision?
Use it for pre-planning only. Always verify values in official LIC benefit illustration before buying.
Why does maturity value change so much with bonus input?
Because bonus is applied over long durations, even small changes in bonus assumptions can significantly affect projected maturity amount.
What is a better way to compare plans?
Compare annual premium, guaranteed income timeline, projected maturity value, and flexibility. Also compare with term insurance plus investment alternatives based on your risk profile.